Companies involved in physical production have to look beyond and consider the overall customer experiences as well. Product lifestyle management is the key principle that not only provides companies the right infrastructure but also means to improve product quality for utmost consumer satisfaction. Product lifestyle management software is a digital advancement evolved today which manages complex strategies involved in producing excellent quality products. This involves the automation of the manufacturing process and reducing the production cycle that will enable to achieve profitability and process efficiency. In today's world when demand is higher for a variety of good and delivered globally, production units have to compete with themselves without compromising product quality. The desire to achieve betterment goals in this commercial climate has led to the implementation of PLM software.
If your business is looking ahead to build a PLM strategy to develop manufacturing skills, design better products and increase overall revenue by achieving customer satisfaction, then this PLM guide will help you achieve your goals;
What is PLM (Product Lifecycle Management) Software?
Product lifestyle management software is an informative, integrated, advanced and a futuristic progressive approach to all the aspects of a product. PLM software integrates organization data, business processes, and external systems, design inception of products, manufacturing, maintenance, and deployment to its final dispersal. Nowadays, PLM system is actively used by mechanical engineering works, fashion industries, electronic manufacturers, retailing business houses, and small production industries.
PLM software is used to automate the manufacturing process by integrating data involved in the business processes such as manufacturing execution system and Enterprise resources planning. Manufacturers implement PLM in their system to handle the production process and conquer the competitive market without compromising on quality yet increasing overall revenue.
List of Top Rated PLM Software in 2020
What are the benefits of using PLM Software?
› Faster production
PLM system software is integrated to create automatic designs. The software processes design that is quick, easy, requires low cost, and fulfils consumer demands. The computer-aided functionality aids in faster production by eliminating manual designing and development process.
› More accurate production
PLM tools are designed to produce accurate designs. The tools offer an exclusive advantage to the users to custom design their product or stimulate test design before production to achieve the best quality.
› More efficient production
PLM provides a healthy work environment by opening the perspective of better communications. Users can easily interact with designers and co-workers throughout the organization to share designs, forecast production, and discuss important data. The automatic work process and healthy environment lead to efficiency in production with an emphasis on detail.
What are the features of PLM Software?
› Secure online environment
The features of PLM software may differ from vendor to vendor and according to the business demands. However, what remains the same in all versions of PLM system software is its ability to increase production efficiency and better work process. Here are the features that make a difference in building a competitive platform for manufacturing business.
› Computer-aided design(CAD)
CAD is a multi-dimensional drawing tool which aids the efficiency of designing. The software works faster than the professionals who draw and design by hands. CAD produces accurate design at a lesser time and allows the engineers to reuse and recreate designs by updating them as required.
› Computer-aided Engineering (CAE)
CAE is an essential feature that simulates products, build preliminary designs, and create a safer work environment. This feature anticipates weakness and finite element analysis, fluid dynamic analysis to induce sound assets structure for the business.
› Manufacturing process management (MPM)
MPM is another important characteristic that is induced in every PLM tools irrespective of what vendor you choose. MPM automates manufacturing process that takes place using machinery. This process supports various reporting functions which enable lesser lead time and utilization of inventories rightly.
› Product Data Management
PDM is a central repository function that deals in product designing, consumer requirement, data collection, and security features. PDM modules are accessible from any devices and are maintained by the production manager to handle billing process, suppliers of material data, information data, machine process, and other minute details that are involved in manufacturing.
› Reporting and analysis
PLM solutions are not only production management software but an advanced analytical tool that takes care of inventories, time, and cost involved in manufacturing a high-quality designer product. Some of the PLM tools are equipped with this in-built feature that keeps a track of overshooting cost and provide ad hoc reporting which can be easily customized as per requirements.
Why should a business implement PLM software?
PLM solutions have brought a drastic change in the competitive market and have opened gates for the business to achieve goals. PLM software has enabled a truly global collaborative work process environment for a retail and manufacturing business that specifically deals in tailor-made consumer items like fashion apparels, accessories, footwear, electrical appliances, and others. PLM solution reduces the overall costs by eliminating the need for sampling and simultaneously speeding the designing process. The prospective consumer is now left with a variety of choices, with all the scope of information that is needed to short-list, examine, and select the best suitable item. Although it may be a daunting task for the customer, they will be amazed by the choices offered to them. PLM software can help the company to manage its product lifecycle by providing data warehouse which majorly affects the product. The main goal of implementing Product Lifecycle Management tools is to eliminate waste, improve efficiency, and boost revenue.
How much does PLM (Product Lifecycle Management) Software Cost?
Normally, PLM tools may be costly; however, it saves a lot of money and resources for the business in the long run by inducing work efficiency and boosting revenue. Generally, the price may vary from $80 to $150 per month, which may differ according to additional functionality. The price may also differ from vendor to vendor and according to the customization of features.
Product Lifestyle Management Software is an informative and integrated platform that process business system and allows you to manage the product throughout its lifecycle. The software induces efficiency, cost-effectiveness, ideation, design management, and manufacturing efficiency of the product by eliminating any wastage of resources or energy.
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Frequently Asked Questions (FAQs)
What is PLM software?
PLM software stands for product lifecycle management. You can manage the product lifecycle through PLM software. The software provides a systematic approach to product design and development. You can easily eliminate waste and improve efficiency through PLM Software. Businesses can use this software to manage product information from product idea generation to product disposal.
What are the main features of PLM software?
- Change Management
- Compliance Management
- Design and visualization
- Centralized data repository
- Cost Tracking
- Product data management
- Document management
- Supplier management
What are the benefits of PLM software?
- Improved productivity
- Improved cost management
- Increased revenue
- Improved data sharing
- Centralized info
- Enhanced quality products
- Drive Innovation
What is the best software for PLM?
- Oracle Agile
- Siemens Teamcenter
- Arena PLM
- 3DEXPERIENCE ENOVIA
- Windchill PLM Software
- SAP PLM
- Fusion Lifecycle
How much does PLM software cost?
The software can begin around $80/month/user to $165/month/user.